MasterCard Index Consumer Confidence in the Emirates at all-time high

DUBAI, 27th August, 2013 (WAM) -- MasterCard has revealed the results of the latest MasterCard Index of Consumer Confidence, which indicates that consumer sentiment in the UAE is at its highest ever, with a score of 94.7.

Consumers in the UAE are extremely optimistic about all five indicators measured in the Index. When compared to the previous edition of the survey released six months ago, consumers are more optimistic about the economy (96.8 vs. 94.6), employment (96.1 vs. 95.2), regular income (93.1 vs. 84.7) and the stock market (92.8 vs. 86.9). Consumers also remain very optimistic about quality of life (94.5 vs. 95.6), despite a slight decrease in its score when compared to the previous edition of the Index.

The latest findings indicate that female respondents are more optimistic than male respondents about the coming months (95.4 vs. 93.9), and that consumers over the age of 30 (95.4) are more optimistic than younger respondents (92.2).

"Over the past few years, the UAE has firmly positioned itself as an attractive global destination where business, leisure and cosmopolitan living merge. Confidence among UAE consumers has largely been upwards and today we are delighted to announce that it has reached an all-time high. Its visionary leadership and ambitious plans as well as promising growth in the key sectors of tourism, logistics and aviation, along with rising asset valuations have inspired confidence among the country's residents and we are equally positive in our outlook for the future," commented Eyad Al-Kourdi, UAE Country Manager of MasterCard.

Across the Middle East, the consumer confidence level remains very optimistic, with positive scores for all five indicators, despite slight declines when compared to the previous edition of the Index released six months ago. The Middle East's aggregate score of 78.5 remains higher than that of Asia/Pacific (63.3) and Africa (78.1), as was the case in the previous survey.

In the Middle East, Kuwait (96.8) overtakes Qatar (96.4) as the market with the highest level of consumer confidence, followed by the UAE (94.7), Saudi Arabia (93.3), Oman (87.1), Egypt (54.1) and Lebanon (26.9).

The MasterCard Consumer Confidence Index is based on a survey conducted between April and May 2013 on 12,205 respondents aged from 18 to 64 in 27 countries within Asia/Pacific, Middle East and Africa. This is the 41st survey of Consumer Confidence conducted since 1993.



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